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We're now trying to hire new grads and have been turned down by two in a row because our salary offers are too low. We offer just $65K to start. I think we're about 9% below market.
Of course Management doesn't want to deal with it because it impacts the entire wage structure. If you hire a new person at the market rate and it is a rate higher than you pay current staff, you'll end up with a lot of rightly disgruntled employees. To adjust the entire structure costs too much.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I recently hired two people at about that pay (not tech) but we required two years experience, and have not had a problem getting good candidates to accept.
We are seeing some compression at the lower levels, not quite so much at the higher levels yet.
I think that this is likely to accelerate though, as we are seeing fewer qualified applicants for each open position, and if we have to increase salaries at the lower levels that will put pressure on the mid- and high- earners.
Having fewer applicants is actually nice in some ways though. We no longer have to wade through dozens of applications, interviewing several highly qualified applicants, any of whom would do a fine job. My last open position only attracted about 20 applicants, of which only 8 or so were really qualified, and the decision after interview was easier.
I'm still seeing lots of crummy $10/hr jobs on the job boards. Is this economy in a depression? I can't imagine that wages are going to go up if companies are still paying that little. There is simply no demand for labor because there are too many unemployed people out there. The real unemployment rate must be 30%.
I'm still seeing lots of crummy $10/hr jobs on the job boards. Is this economy in a depression? I can't imagine that wages are going to go up if companies are still paying that little. There is simply no demand for labor because there are too many unemployed people out there. The real unemployment rate must be 30%.
Costs of living have increased. Wages have been depressed for years. Anyone seeking work are not targeting low wage jobs long-term.
Yes, we are seeing the same thing. Very hard time hiring new engineers and scientists. Federal gov expects to hire them at GS5-GS7 which is $20K - $25K less than what you're offering. We've gone through a long line of offers over the last year with very few acceptances.
My employer pays good wages and doesn't have any trouble attracting or retaining people. Our turnover rate is quite a bit lower than the industry's.
I'll echo this, except we do have trouble finding good people, as we need specific experience, either in certain technologies or verticals. But I don't think many people, other than killer (maybe in their own mind) sales people, who leave my current employer.
To respond to OP, $65K for an EE sounds low. If they can't hire people they want to keep, and keep them; either they need to change, or they'll go under.
I'll echo this, except we do have trouble finding good people, as we need specific experience, either in certain technologies or verticals. But I don't think many people, other than killer (maybe in their own mind) sales people, who leave my current employer.
For the most part, we train and promote from within.
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